Tex. Water Code § 58.391
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
The board may declare that funds are not available to meet lawfully authorized obligations of the district, thereby creating an existing emergency, and may borrow money at a rate of not more than 10 percent a year on notes of the district to pay obligations.
Tex. Water Code § 58.391